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Willis South 203 E Watson St 48 Unit Apartment Building $7,394,560 CAD ($154,053 CAD/Unit) 7.42% Cap Rate Willis, TX 77378

Apartment Buildings Texas Willis 203 E Watson St, Willis, TX 77378

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INVESTMENT HIGHLIGHTS

  • Willis South Apartments is a market-rate apartment complex with stable cash flow supported by USDA voucher-backed rents and market-rate tenants.
  • Clean USDA physical inspection reflects strong property condition and well-maintained on-site leasing office, laundry facility, and tenant amenities.
  • Ratio Utility Billing System implementation helps reduce operating costs as the tenant pays for electricity and the owner pays water, sewer and trash.
  • Formerly rent-subsidized but now unrestricted, it offers 48 units, operational flexibility, and upside via rent optimization and value-add utilities.
  • Receive stable income from voucher rents up to $1,461 per month on select two-bedroom units with remaining units leased at full market rates.
  • Benefit from long-term financial stability with positioning inside a high-growth North Houston submarket with 4.7% projected annual population growth.

EXECUTIVE SUMMARY

Patrick Graham
License # 9005919 (TX)
Matthews Real Estate Investment Services, Inc
2699 Howell St., Suite 400, Dallas, TX 75204
(866) 889-0550

PROPERTY FACTS

Price $7,394,560 CAD Building Class C
Price Per Unit $154,053 CAD Lot Size 2.72 AC
Sale Type Investment Building Size 46,000 SF
Cap Rate 7.42% No. Stories 2
Gross Rent Multiplier 7 Year Built 1979
No. Units 48 Parking Ratio 1.54/1,000 SF
Property Type Multifamily Opportunity Zone Yes
State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Property Subtype Apartment
Price $7,394,560 CAD
Price Per Unit $154,053 CAD
Sale Type Investment
Cap Rate 7.42%
Gross Rent Multiplier 7
No. Units 48
Property Type Multifamily
Property Subtype Apartment
Building Class C
Lot Size 2.72 AC
Building Size 46,000 SF
No. Stories 2
Year Built 1979
Parking Ratio 1.54/1,000 SF
Opportunity Zone Yes
State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.

AMENITIES

UNIT AMENITIES

  • Air Conditioning

LINKS

1 1

PROPERTY TAXES

Parcel Numbers
Multiple
  • 8240-00-07100
  • 8240-00-07000
 Improvements Assessment $2,156,256 CAD
Land Assessment $253,897 CAD Total Assessment $2,410,153 CAD

PROPERTY TAXES

Parcel Numbers
Multiple
  • 8240-00-07100
  • 8240-00-07000
Land Assessment
$253,897 CAD
Improvements Assessment
$2,156,256 CAD
Total Assessment
$2,410,153 CAD
(346) 326-8993

Still interested?

Contact the brokers for more information about this property

CONTACTS

  • Listing ID: 38423677

  • Date on Market: 2025-11-12

  • Last Updated:

  • Address: 203 E Watson St, Willis, TX 77378

The Multifamily Property at 203 E Watson St, Willis, TX 77378 is currently available for Sale. Contact Matthews Real Estate Investment Services for more information.

MULTIFAMILY PROPERTIES IN NEARBY NEIGHBORHOODS

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Willis South | 203 E Watson St
(346) 326-8993 x

Willis South | 203 E Watson St

Nathan Shields
(346) 326-8993

Luke Matthews
(281) 809-4006

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